Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on WINDAR PHOTONICS PLC. We currently have 3 research reports from 1 professional analysts.
|30Dec16 07:00||RNS||Canadian and Korean Orders|
|29Dec16 07:00||RNS||NIWE Order|
|28Dec16 07:00||RNS||Indian IPP Order|
|19Dec16 07:00||RNS||Trading Update|
|23Nov16 10:53||RNS||Holding(s) in Company|
|04Nov16 07:00||RNS||WindEYE orders from large scale US IPP|
Frequency of research reports
Research reports on
WINDAR PHOTONICS PLC
WINDAR PHOTONICS PLC
04 Oct 16
Windar Photonics’ H116 results show that customer engagement is intensifying, but is not translating into revenues at the rate management had hoped for. The company has taken action to reduce cash burn and speed up the sales cycle. Management notes that these delays will affect H216 and FY17, so we have revised our estimates and indicative valuation.
Chinese contract win points to future growth
13 Jun 16
Windar’s FY15 results were in line with our forecasts, but lower than the expectations at the time of the IPO in March 2015 because of issues with the distributor in China, which is a key market. These issues appear to have been resolved and we expect renewed activity in China to lead to a ramp-up in sales, beginning in H216. The subscription and factoring arrangement announced in May 2016 remove the funding gap identified in our previous note.
Winds of change
23 Mar 16
Our valuation analysis is based on a DCF reflecting a series of potential outcomes related to market penetration and consequent volume benefits. This yields a range of fair values between £35m and £107m (excluding the impact of any FY16 funding). Receipt of further volume orders should act as a catalyst towards our midcase fair value of £57m, which is based on the roll-out modelled in our estimates.
The Slide Rule
12 Jan 17
What is The Slide Rule? The Slide Rule has been designed to dramatically simplify the identification of the best companies in the UK small/mid-cap sector by making a quantitative assessment of the relative potential of each company. At its core, The Slide Rule aims to identify those companies that create genuine shareholder value through strong returns on capital and solid growth, but also present a value opportunity with the potential tailwind of earnings momentum. Companies are assessed within a Quality, Value, Growth and Momentum (QVGM) framework.
N+1 Singer - Morning Song 12-01-2017
12 Jan 17
As anticipated, the second half has again been stronger than H1 and results will be broadly in line with expectations. In line with this, the order book has continued to grow and is at record levels. This confirms that significant progress has been made in the Group’s shift towards its Technology Products division which, as targeted, contributed c.60% of group revenue in FY16. The small acquisition of Cable Power also gives a complementary boost to the product range. It is also worth noting the significant reduction in net debt, £1.0m ahead of our forecast. We remain supportive of the Group’s strategy and continue to see a bright future as this transition towards a design led technology solutions business continues. We look forward to more detail in March at the final results.
N+1 Singer - Small-cap quantitative research - Momentum screen refresh + 10 focus stocks
12 Jan 17
We have refreshed our momentum style screen for the first time since inception on 26 July 2016. As before, the screen selects the 25 stocks exhibiting the most extreme momentum characteristics, according to our measurement method. From these we have selected 10 to focus on. Since inception the screen has underperformed both the main small-cap and micro-cap indices against a background of generally rising momentum. We have noted a subset of the basket, where decelerating momentum at the time of measurement appears correlated with significant share price falls since selection. We shall monitor this factor with the new screen, albeit there are only two such stocks showing this pattern, namely Lamprell (not rated) and Gear4music (not rated).
N+1 Singer - Best Ideas 2017 - Top picks
04 Jan 17
Today we publish our Best Ideas for 2017 - 12 stocks that we believe have excellent prospects in the current year together with a detailed discussion of what we see as the key sector and market themes for 2017. Our top picks are Cineworld, Elementis, Herald Investment Trust, Hill & Smith, IQE, MySale, Redde, ReNeuron, RhythmOne, SDL, Servelec and Severfield.